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Howard Schultz - founder of Starbucks

Find your Inner Entrepreneur Intro Project

Chaerin Kwon

on 15 June 2011

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Transcript of Howard Schultz - founder of Starbucks

Howard Schultz CEO of Starbucks net worth: $1.1 Billion +$6 billion in sales every year He was working as a salesman for Hammerpast, a Swedish housewares company. He noticed he was selling many coffee percolators to a popular little company in Seattle; Starbucks, which wasn't a coffee bar back then. They just sold coffee beans and products. He went to go check out the store.. He saw and he loved the care the owners put into choosing and roasting the beans, he wanted to be part of the company. He got himself hired as the director of marketing. It went well, but after a year Schultz bought Starbucks for $3.8 million. He wanted to make it like a coffee bar,
but the Starbucks owners didn't want
to get into the restaurant business.
Upset, Schulz quit and started his own company called Il Giornale. His ideas for Starbucks
were inspired by his trip to Italy. There were coffee bars everywhere.
They served great expresso, but also was a great meeting place for friends and social gatherings. Schultz was then inspired to build
"a company with soul".
This led him to several practices that
were unprecedented in retail. He offered great employee benefits that included.. comprehensive health coverage
for those working 20+ hours a week including coverage for unmarried spouses retirement savings plans, discounted stock options, income protection plans, adoption assistance plans, management bonus plans and support resources for child and elder care discounted Starbucks merchandise It led to low worker turnover
and great employee loyalty.
Schultz wanted the best for his
workers because he remembered his father, a long time ago.. . His father struggled with difficult jobs before he died. He had no health insurance, no workers' compensation, and was injured on the job. He was not respected. He had no health insurance, workers compensation, and he got injured on the job. He was not respected He struggled greatly with low-paying jobs. He made sure that the 'baristas' were
well treated, and that the baristas treated
their customers well as well.
He put great care into choosing
and roasting in the beans, and worked
hard to give great service to customers. The great service and the morals put into Starbucks made gave it a great reputation and made it a success. It was possible because of Howard Schultz' character. How he acquired his company; He chose the well-being of his employees
even if it was costly, because he believed it was right. His character; Competitive He excelled in sports at school. He was awarded
an athletic scholarship to Northern Michigan University
and earned a degree in business as well.
This made him the first person in family to graduate from college. Persistant In 1995, Tricia Reebs, an analyst for Dain Bosworth, said that Schultz is "a very strong idea person. He has a vision of what he wants to create, and he has the follow-through. It's something in his character - passion, belief , confidence. Modest When asked about how to succeed as a CEO,
Schultz explained that "you need the self-esteem to
hire people who are smarter than you and give them
the autonomy to manage their own areas.
Surround yourself with great people and get out of the way." Lowlights It was not always easy;
he went through difficulties to make Starbucks the best. -He had to close hundreds of underperforming stores during the recession.

-Starbucks also had to deal with many critics.
People judged the company as the symbol of 'global capitalism' that ruined other independent coffee houses in the world. -Many Starbucks stores in Seattle were also attacked during the World Trade Organisation talks in 1999. -One customer even paid for 4 full-page advertisements in the Wall Street Journal to criticize the company. Highlights/Awards and Recognition -winner of the Business Enterprise Trust Award for courage, integrity, and social vision -International Humanitarian Award for CARE for his vision and leadership -Jerusalum Fund of Aish HaTorah for making
contributions to improve the lives of people around the world -National Leadership Award for philanthropic and educational efforts to battle AIDS -Business Leader of the Year Award (from Georgetown University) -Botwinick Prize for Business Ethics from Columbia University -1991 Ernst and Young Entrepreneur of the Year Award,
and more... Many of his awards recognize Schultz
not only for his entrepreneurial skills but for
his great business ETHICS. He makes sure that Starbucks purchases only organic coffee beans. He also built Starbucks Foundations,
involved in education programs,
AIDS walks, Earth Day clean-ups,
buiding schools and health clinics. Howard Schultz'Starbucks
has gone through changes and difficulties, but is now one of
the most well-known and loved coffee shop ever. Internet:





www.starbucks.com Bibliography Profile:

religion: Jewish
born in: Brooklyn, New York
birthdate: July 19, 1953 by Chaerin Kwon
Full transcript